Here Are 3 Hot Things to Know About Stocks Right Now

The Dow Jones Industrial Average rose modestly as investors awaited news from the meeting between President Donald Trump and his Chinese counterpart, Xi Jinping, at the G-20 summit.

Apple's (AAPL - Get Report) chief design officer, Jony Ive, will be leaving the tech giant to start an independent design firm. Shares of Apple, which will be one of Ive's firm's primary clients, declined nearly 1% to $197.92. Apple is Real Money's Stock of the Day.

Wall Street Overview

Stocks finished higher on Friday, the final trading day of the second quarter, as investors cautiously awaited news from a key meeting between President Donald Trump and his Chinese counterpart, Xi Jinping, at the G-20 summit in Osaka, Japan.

The Dow Jones Industrial Average, which posted its best June gain since 1938, finished up 73 points, or 0.28%, to 26,599. The S&P 500 finished up 0.58% to 2,941, capping its best first half in 20 years, and the Nasdaq advanced 0.48%

Trump is expected to speak with Xi for about 90 minutes beginning at 10:30 p.m. ET, according to White House officials. Trade will be the focus of their long-awaited meeting, as the U.S. and China look to revive a budding agreement that collapsed in May amid acrimonious charges of "backsliding" and "bullying" between the two sides.

White House economic adviser Larry Kudlow told Fox News there were no pre-conditions to the meeting, adding that "we believe it's quite possible if the meeting goes well that the Chinese will come back to the negotiating table and we might be able to pick up where we left off in May."

In energy news, Brent crude contracts for August delivery, the global benchmark, were down $1.51 at $65.16 per barrel. West Texas Intermediate contracts for the same month, which are more tightly linked to U.S. gas prices, were $1.49 cents lower at $57.94 per barrel.

Apple's (AAPL - Get Report) chief design officer, Jony Ive, will be leaving the tech giant to start an independent design firm. Shares of Apple, which will be one of Ive's firm's primary clients, nearly 1% to $197.92. Ive has been with Apple since 1992, shepherding landmark efforts in iMac, iPod, iPhone and interface design. Apple is Real Money's Stock of the Day.

JPMorgan Chase (JPM - Get Report) shares climbed 2.7% to $111.79 after the biggest U.S. bank said it would increase its quarterly dividend, and boost its share buyback plans, after passing the Federal Reserve's stress tests.

JPMorgan Chase, the Dow's top performer on Friday, along with Goldman Sachs ( GS - Get Report) , was of 18 of the biggest U.S. banks that the Fed cleared to pay out billions of dollars of capital to shareholders as dividends and stock buybacks, after declaring they could survive a severe recession with financial strength to spare.

Deutsche Bank ( DB - Get Report) shares also rose, climbing 1.1% to $7.62, after the lender's U.S. operations passed Federal Reserve stress tests that will allow it to boost investor payouts and return some profits to the European lender's home base

In economic news, the Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.4%. Consumer prices as measured by the personal consumption expenditures (PCE) price index rose 0.2%.

"Personal consumption expenditures grew at a solid pace in May, suggesting the consumer remains relatively healthy here in the U.S.," said Michael Reynolds, investment strategy officer at Glenmede. "The strength of the U.S. consumer is helping to prolong this expansion, particularly as it appears to be offsetting some of the weakness we have seen recently on the manufacturing side of the economy."

Reynolds said that core PCE, which is the Fed's preferred measure of inflation because it strips out the more volatile food and energy components, ticked up in May.

"However, 1.6% year-over-year inflation is a continuation of the persistent undershoot of the Fed's 2% target," he said. "This likely adds fuel to expectations that the Fed will cut interest rates at their meeting in July in order to guide inflation closer to target."

Consumer sentiment rose to 98.2 in June, the University of Michigan said, down from May's reading of 100 and slightly above the forecast of 98.